“New Date Announced”: Oil Marketers Speak on Petrol Prices from Dangote Refinery
- Oil marketers have disclosed that they have not reached any petrol pricing agreement with Dangote refinery
- The marketers disclosed that they are not surprised by the new date but that they will load the product as soon as it becomes available
- They disclosed that the refinery management has not issued any petrol pricing yet but will buy from the facility whenever it is ready
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Oil marketers expect petrol to be released from the Dangote refinery, as they disclose that the facility’s management has not reached a pricing agreement with marketers on the product.
Legit.ng reported that the refinery announced a new date for the supply of petrol, shelving the July date earlier announced.
Source: Facebook
Dangote announces new date for petrol rollout
Aliko Dangote, president and CEO of Dangote Industries Limited, revealed that the refinery was set to roll out its petrol in August 2024 after it resolved its crude oil supply issues with the help of the Nigerian National Petroleum Company Limited (NNPC) and the Nigerian government.
Marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) said the shift in date from the refinery was not surprising.
They expressed readiness to begin lifting products from the facility, noting that the refinery has not made any statement on pricing yet.
Marketers ready to begin lifting petrol
Punch reports that IPMAN President Abubakar Maigandi disclosed that the association does not have issues with the new date but that the most important thing is for the refinery to begin rolling out petrol.
The IPMAN boss disclosed that the association was waiting for Dangote to issue new petrol pricing for his refinery.
According to him, oil marketers are ready to lift products from the plant, stating that the association has informed its members nationwide to begin loading immediately after it starts pumping petrol.
Reports say that PETROAN President Billy Gillis-Harry said the July date was not feasible considering the processes involved in rolling out petrol.
Gillis-Harry said the refinery management is yet to disclose the pricing for a litre of petrol from the plant.
Dangote to import crude from African countries
The development comes as Dangote explained why his refinery will continue to import crude from abroad, especially from other African countries.
He said the 650,000 bpd-capacity refinery will start crude imports from other African countries in October due to non-availability in Nigeria.
The Nigerian industrialist stated that his company will source crude from other African countries after importing it from the US and Brazil recently.
He disclosed this during a tour of the Dangote Refinery on Saturday, July 13, 2024.
Africa’s richest man said he expects to purchase feedstock from the US and Brazil in the coming months.
He said talks were ongoing to secure feedstock from other oil-producing countries such as Angola, Senegal, and Libya.
He added that the product's non-availability from Nigeria has made it necessary for his plant to source feedstock elsewhere.
Another refinery ready to begin fuel production
Legit.ng reported that the Port Harcourt Refining Company is getting closer to beginning operations and starting production like the Dangote Refinery.
Senior officials from the Federal Ministry of Petroleum Resources and the Nigerian National Petroleum Company Limited disclosed that the refinery is undergoing crucial licensing procedures.
Punch Newspaper quoted a senior ministry official who confirmed the supply of crude oil to the plant.
Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng
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Source: Legit.ng
